A 26-year-old former Goldman Sachs analyst from Long Island was indicted by federal authorities on insider trading charges for allegedly sharing confidential information with childhood friends and won $1,000 in an ethics contest while in college. won the prize.
Anthony Villano, of the Nassau County hamlet of Baldwin, and three of his classmates who attended the University of Tampa received the award at the 2018 Ethics Invitational event. Bloomberg News reported.
Officials said the event focused on “practicing how to apply decision-making frameworks to help investment professionals conduct business with integrity.” A newsletter published by the university’s business school.
The Ethics Invitational, run by CFA Institute of Tampa Bay, “is designed to help prepare the next generation of talent.”
Increasing awareness of professional ethics in investment professionals enables them to confront real-world ethical dilemmas, while providing “opportunities for teams to develop and practice ethical decision-making skills.”
“Teams are given a case and must prepare a five-minute video demonstrating their understanding.
Applying ethical concepts to professional situations. ” According to the competition rules.
“Teams that advance to the final round will participate in a live question and answer session with their team.
Panel of judges. ”
“It’s unfortunate that past participants are now engaging in something that goes against what they’ve learned,” CFA Institute Tampa Bay President Maxwell Grimard told the Post.
“It’s ironic that past performance is not indicative of future results,” he said.
The Post has reached out to the University of Tampa for comment.
Federal prosecutors in Manhattan say Villano used his position as an analyst at Blackstone, his first employer, and Goldman Sachs to boost the stock prices of the companies involved in future mergers, according to court filings.・He claims that he tipped off a friend about the acquisition.
Legal filings say Villano used the encryption app Signal and an Xbox video game console to provide confidential financial information to Christopher Salamone, 35, who grew up on the same block as his friend. is said to have been provided.
Federal prosecutors in Manhattan allege that tips Villano provided to Salamone led to more than $300,000 in illegal profits, according to court documents.
According to court documents, after the FBI questioned Villano and Salamone last June, Salamone began recording conversations with Villano and assured friends that authorities could not trace their communications regarding illegal stock information. I tried.
Salomone, of Long Beach, Louisiana, pleaded guilty to three counts of securities fraud and one count of conspiracy. The Justice Department said he is cooperating with investigators.
Villano’s college friend, Stephen Forlano, 27, is suspected of embezzling about $114,000 in transactions based on illegal tips he received from friends, court documents state.
The indictment filed last week by the Securities and Exchange Commission also names Nathan Bleckley, a 26-year-old U.S. Army captain who attended the University of Tampa with Forlano and Villano.
Mr. Bleckley, who has not been criminally charged and is said to be cooperating with the investigation, is said to have made about $25,000 based on information he received from Mr. Forlano, according to court documents. .
Villano was working as an analyst at Blackstone in 2021 when he learned the investment firm was planning to acquire assets from insurance giant American International Group (AIG).
Mr. Forlano allegedly acted on that information and purchased AIG stock. AIG’s stock price rose more than 3.5% following the Blackstone acquisition announcement.
According to court documents, Forlano passed on similar information he received from Villano to five friends and family members, making a combined total of $110,000.
Mr. Villano is charged with nine counts of securities fraud and conspiracy, while Mr. Forlano, of Tampa, Florida, is charged with four counts.
All four also face related civil charges from the SEC.
Villano’s attorney, Stephen Brill, declined to comment.
Forlano’s attorney, Michael Buckner, declined to comment when contacted by the Post.
Brecks’ attorney, Todd Spodek, told the Post: Mr. Brex has not been criminally charged and has agreed to the SEC’s partial judgment in this case in an effort to have the case overturned. ”
Salamone’s lawyer could not be reached for comment.
Blackstone and Goldman said in separate statements that they are cooperating with authorities and have “zero tolerance” for the alleged wrongdoing, which they say violates business standards. Mr. Blackstone added that Mr. Villano had a “non-investment” role at the company.
with post wire
